Bitcoin
Bitcoin Surges to $67,300, Michael Saylor Reacts by U.Today
U.Today – Michael Saylor, a renowned advocate and co-founder of MicroStrategy, used his username X to share an optimistic statement about Bitcoin with the global cryptocurrency community.
This happened when the leading global digital currency, BTC, suddenly jumped 6%, leaving the $67,000 price level behind.
Bitcoin Surges to $67,300, Saylor Says
Michael Saylor has published a diagram of the dynamics of Bitcoin’s price growth compared to other assets in the financial markets over the past four years — since August 20, when Saylor’s company MicroStrategy began its regular Bitcoin accumulation.
According to this chart, digital gold (as Bitcoin is often called) has increased by a whopping 460%. Alongside BTC are the S&P 500 and Nasdaq indices with increases of 64% and 62%, respectively. Gold has added 21% and silver has gained just 8% over the past four years. While all of these assets led by Bitcoin have been increasing in value, bonds, as the chart shows, have plunged into the red, falling 19%.
Commenting on Bitcoin’s bullish lead among popular assets, Saylor tweeted: “If you’re not winning, you’re losing. #Bitcoin.” Thanks to regular Bitcoin accumulations over the past few years, MicroStrategy currently holds 226,331 BTC valued at $7.538 billion. The most recent purchase was made in June, when the company raised $700 million by offering its investors convertible senior notes specifically to buy more Bitcoin.
Earlier this year, a similar fundraising campaign was held by Saylor’s company in March, when they raised $500 million for an additional Bitcoin purchase.
MicroStrategy outperforms rivals
According to Saylor’s previous tweet, MicroStrategy’s stock price has soared by 1,203% in the same time period mentioned above.
It has outperformed Nvidia (NASDAQ:), whose shares have soared in price by 1,050%. Meanwhile, Tesla (NASDAQ:) has surged 167% since then. It has outperformed electronics and IT giants such as Apple (NASDAQ:), Google (NASDAQ:), Microsoft (NASDAQ:) and Meta (NASDAQ:). At the time of publication, MSTR is trading at $1,768.
Bitcoin Recovers $67,000
Over the past 24 hours, Bitcoin has jumped by around 6%, reaching the $67,300 zone on news about the global outage faced by Microsoft IT systems around the world following issues faced by cybersecurity services provider CrowdStrike (NASDAQ: ).
So far, Bitcoin has pulled back a bit and is trading at $66,660.